Getting Your Mastermind Group to Set and Keep Goals

One of the major benefits of belonging to a mastermind group is accountability. You share your goals with the group, and the group helps keep you on track by asking you about your Action Plan and what you’ve accomplished so far.

So how do you first get your mastermind group members to set goals? It all starts with them voicing a vision for what they want in their life and business. What’s the Big Vision for their future?

Next, ask them to set intermediate goals that will lead them towards that Big Vision. Have the group brainstorm about which intermediate goals will be most effective and which may be a waste of time, money or resources.

Finally, ask the member to write out an Action Plan for achieving each intermediate goal. The group can help by making sure the action plan is accurate, includes not only what will be done, by what the deadline is, and who is going to do the work.

Each meeting, each member should review his/her action plan with the group and report on the status. Members should be listening for several things:

  1. Are action items getting done on a timely basis?
  2. Is the member trying to do everything themselves, or are they delegating what can be delegated?
  3. Are they adding in other action items that will not lead them towards their Big Vision?
  4. Where have they overestimated or underestimated the time it takes to do tasks?

By setting and keeping goals, your mastermind group achieves success. Have your mastermind group members work diligently on all aspects of their dreams for success, from the Big Vision to their Action Plan.


Can I Charge For My Mastermind Group?

Should you — and can you — charge a fee to your mastermind group members to attend your group? I get this question all the time, and the short answer is: “Yes!”

Now let me give you some food for thought:

  1. It takes a lot of skill and effort (not to mention time, commitment and consciousness) to facilitate a quality mastermind group. In order to create a win-win situation, you should get some benefit in return. If you’re an active member in your own mastermind group, the benefit you get from participation is probably enough and you don’t need to get paid, too. But if you are facilitating groups where you are not a member, your time, experience, and ability should be honored.
  2. One of the main reasons why mastermind groups fail is that the members are not as committed as they should be. Commitment comes in two flavors: showing up to every meeting, and participating fully. One way to prove commitment level is to put your money where your mouth is.
  3. If you are an expert in your field, you may be combining training, consulting and coaching into your mastermind group. You should be paid for that value you provide your members.

Don’t undervalue yourself. You need to be a role model for your members, and if you place little value on your own skill, time and knowledge, your members will mirror that.

If you still feel awkward about charging for your mastermind group, consider putting all the money into a fund that will pay for a mastermind group retreat weekend or a “success party” for the group.

What fee should you charge? Check out my blog post, How to Set Membership Fees for Your Mastermind Group


Is a Mastermind Membership Right For You?

Take the Mastermind Readiness Test!

Rate yourself on a scale of 1 (“No, not at this time”) to 5 (“Yes, absolutely”):

____ Do you want a supportive and encouraging team of mastermind partners?
____ Are you ready to grow personally and professionally?
____ Do you have the desire and inspiration to make this year extraordinary?
____ Are you ready to create more focus in your life and business?
____ Are you committed to attending all meetings (either in-person or via telephone) and participating regularly?
____ Do you want to reach or exceed your goals?
____ Are you committed to making the shift from settling for an ordinary life to one that fulfills you on new levels?
____ Are you ready to let your desire to be passionate about your life and work overcome your fear of change?
____ Do you want to explore specific topics and diverse views within the context of a group?
____ Are you willing to invest time, money, emotion, willpower and energy into taking better care of yourself and creating the life and business you want?
____ Are you willing to be supportive, and provide privacy and safety, when others share what truly matters to them?
____ Are you ready to learn from your peers?
____ Are you willing to ask for help?
____ Are you willing to give as much as you receive?

 

Your Score ____

If your score is:

  • 14 – 28: Take a look at yourself and ask yourself if you’re ready to create the business and life you want.  What’s the first thing you’d like to work on?
  • 29 – 42: You’re ready to take control of your life, your career and your personal success.  A membership in a mastermind group can help you create the strategy and actions for moving forward!
  • 43 – 70: You’re probably already moving forward on designing the life and business you want and deserve.  Belonging to a  mastermind group can help you move across the finish line!

If you think you’re ready for a Mastermind Group, read about:

 

bullet How to Find a Mastermind Group
bullet Launch Your Mastermind Group in 60 Days


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